After more work than expected (as usual)... I have a fresh lightning node back online!
* looks at https://jochen-hoenicke.de/queue/#BTC,2d,weight,4 *
Well... I guess I'll be waiting a little longer to get this fully operational then! Not trying to open channels @100 sats/vbyte, if at all possible 😇
A simple step to improve your #bitcoin privacy: don't send payments with a round-number value (eg. 0.003 btc), instead specify each payment value to the sat (eg 0.00302123 btc).
6 Feb: 1 Mobilecoin = 7,900 sats
6 Mar: 1 Mobilecoin = 10,700 sats
25 Mar: 1 Mobilecoin = 11,900 sats
5 April: 1 Mobilecoin = 93,100 sats!
6 April: Signal publicly announces plans to test Mobilecoin integration
Hmm yes, nothing to see here. Just some 80%-pre-mined shitcoin front-running on display for all to see 🤔 😪
Last night I was playing a game of Dominion online (a deck-building game, super fun!)— my opponent said hello in the chat, and then promptly mentioned that they were almost finished syncing a bitcoin full node, and sent a link to the Umbrel website! I replied that they now just need a lightning node to go with it haha. We had a nice little chat while playing.
It was cool to meet another sovereign bitcoiner in the wild, and not just another ETF-moon-chasing newbie 😅😇
By purchasing an ETF, you help to support the potential of a government-activated-soft-fork.
Stop celebrating these sorts of financial products. Encourage people you know to buy and hold actual #bitcoin!
imo it's not a good look roasting people like Lex Friedman. The guy is genuinely interested to learn about and understand bitcoin, but his position as some sort of 'public intellectual' makes this tough: any perceived mis-steps are being met with prejudice/bullying behaviour.
Honestly, how many diehhard bitcoiners didn't at some point think "huh, ethereum seems like its kinda interesting"?
I get the need to call out scams, but don't forget the journey pretty much everyone takes to get here.
A few related points:
- A UTXO does not have to be unlocked by a scriptsig that includes a signature from a privkey. eg, the hash-collision bounties that @pete created. Does it make sense to talk about who 'owns' those?
- Faketoshi has recently made legal threats, demanding that devs write code to give him control of coins that he claims were stolen from him. In this case, he claims social-layer ownership, but obviously does not have protocol-level 'ownership'. (obvious fraud aside)
'Ownership' is a human concept, enforceable at a social level. After all, users would normally say "I own some BTC", not "I have knowledge of a key that lets me spend some BTC".
If you happened to find a key that can spend someone else's coins, doing so would constitute theft, by human convention.
Practically, 'ownership' is only ensured via an exceedingly large bitcoin keyspace: the chance of someone else generating a privkey that can spend your funds is basically zero.
What does it mean to own #bitcoin ?
The answer is not as clear as it may first appear! You can have knowledge of a private key that lets you spend some UTXO on the network, but do you 'own' that private key? Someone else could also have knowledge of it, after all. How can you own a number? 'Owning' has an implied exclusivity, but data/numbers are abstract concepts which are not exclusive by nature.
Stack exchange user @redgrittybrick explains this nicely here: https://bitcoin.stackexchange.com/questions/103873/what-exaclty-does-owning-cryptocurrency-mean
Best comment in the thread, by a long shot hahaha
So now the question is: anyone have any hot tips for opening new channels? I'm excited to get my lightning infrastructure updated and better optimized.
No deep insight here, just interesting to see how much good channel crafting can matter. Not great to see channels which didn't do anything, or which only ever sent sats. Very cool to see channels that sent/received payments in excess of their capacity!
Note: I think during the entire lifetime of all my channels thus far, I've made exactly 1 satoshi as a routing fee. As I mentioned, I didn't try to optimize for this at all though. Ha
Closed all my lightning channels, which I opened years ago and did ~nothing to maintain/balance. Some stats:
- One channel was never used! (0 sats sent, 0 sats received)
- One only sent sats, never received. Closed with ~1/3 local balance.
- One of them sent >2x the channel balance, and received almost the same amount. Closed with ~1/2 local balance.
- The highest capacity channel sent ~1.5x the channel balance, and received about the same amount. Closed with ~85% local balance.
A funny artifact of #bitcoin is how insanely efficient humanity has become at computing SHA256 hashes. Shit, you think the price is crazy? The hashrate has been unapologetically parabolic since almost day 1. Look at this chart, you can view from genesis to *any* point in time, and the hashrate is just skyrocketing up and to the right:
Seriously, try it. Click and drag to view any timeframe. Parabola!
Lightning question: I assume that it would be smart to close out old zombie channels before updating LND? (updating from 0.7 -> 0.12)
I'm just digging into my node a bit, and discovered that one of my channels has a last_update from early November...2019!
This makes me wonder, what happened to that node? What will happen to the couple hundred thousand sats of remote balance when I close this channel? Will they be lost forever? Or will the channel counterparty recover them? Hmm
This site misses what I think is the most important point: bitcoin mining allows security to be gained in a highly efficient manner! 'Green-ness' arguments are secondary considerations imo.
I worry that one of the largest current threats to #bitcoin is regulatory capture. There is a possible future in which bitcoin becomes very valuable, but it almost all resides in highly regulated ETF-like investment vehicles. This would be a disappointing future, with so much missed opportunity. And so I am sad to see so many bitcoiners celebrating ETFs, and the like.
techno sapien demands techno sovereignty
Bitcoin Maston Instance